15th Jul 2025 12:16
(Alliance News) - Stock prices in Europe were largely higher on Tuesday, setting aside the tariff worries that kept enthusiasm to a minimum at the start of the week.
London's FTSE 100 tread water, but not after achieving a new record, spiking above 9,000 points.
The FTSE 100 index traded 6.01 points lower, 0.1%, at 8,992.05. Almost immediately after the opening bell, it topped 9,000 points for the first time in its 41-year history, peaking at 9,016.98 in early dealings. So far this year, it is up 10%.
The FTSE 250 was up 114.97 points, 0.5%, at 21,839.74, and the AIM All-Share added 1.22 points, 0.2%, at 775.27.
The Cboe UK 100 was flat at 897.76, the Cboe UK 250 was up 0.5% at 19,242.89, and the Cboe Small Companies added 0.3% to 17,489.85.
The CAC 40 in Paris and Frankfurt's DAX 40 each added 0.1%.
The pound was quoted at USD1.3455 early Tuesday afternoon, up from USD1.3446 at the time of the London equities close on Monday. The euro was at USD1.1684, flat against USD1.1683. Against the yen, the dollar rose to JPY147.72 from JPY147.52.
"European markets are taking a largely positive stance in early trade today, casting aside the tariff fears that had dominated the newswires over the weekend. Instead, today sees markets looking ahead to a day which will be dominated by both earnings and economic data, with US CPI and a raft of big bank figures," Rostro analyst Joshua Mahony commented.
"Notably, the DAX strength has been propped up by the automotive sector, with BMW, Porsche, Mercedes-Benz, and Volkswagen on the rise after the EU outlined retaliatory measures that targeted a number of sectors including US cars. There is a hope that an eventual deal with the US could include some reduction in the current 25% tariff on vehicles and parts implemented in April, which would at least provide European exporters with a competitive advantage against their Chinese counterparts."
The pace of US consumer price inflation is expected to have picked up to 2.7% on-year in June, according to FXStreet cited consensus, from 2.4% in May.
Among the early US banking sector reporters, JPMorgan shares rose 0.7% in pre-market dealings. It said reported revenue in the second quarter faded 11% to USD44.91 billion from USD50.20 billion a year prior.
Net income fell 17% to USD14.99 billion from USD18.15 billion.
The company said investment banking fees rose 7% during the quarter, a sharp outperformance against the 14% decline expected by analysts, according to Bloomberg.
In New York, the Dow Jones Industrial Average is called to open flat, the S&P 500 0.4% higher and the Nasdaq Composite up 0.6%.
The yield on the US 10-year Treasury was at 4.42%, narrowing from 4.44%, where it stood at the time of the closing bell in London on Monday. The yield on the 30-year was at 4.96% against 4.98%.
A barrel of Brent fell to USD68.91 from USD69.57. Gold rose to USD3,361.93 an ounce from USD3,347.47.
In London, Experian led the way on the FTSE 100, adding 4.6%. The provider of consumer credit score checking, fraud detection and credit application processing said revenue in the quarter to June 30 rose 12% on-year. At constant currency, growth was also 12%. Organic growth was 8% at constant currency.
The strongest organic revenue came in North America, at 9%. In Latin America, organic revenue growth was 5%, while in the Europe, the Middle East & Africa and Asia Pacific grouping, it 7% higher. In the UK & Ireland division, it edged up 1%.
"Overall, we view this as a strong start to the year for Experian," analysts at Stifel commented.
Barratt Redrow fell 6.4%, paring sharper losses. It reported a "solid" full-year performance and it predicts profit in line with market expectations, though home completions fell short of its guidance.
The housebuilder reported "fewer international and investor completions than expected" in its London business.
Total home completions for the financial year that ended June 30 amounted to 16,656, down from last year's 17,972. The comparison figure includes houses built by Redrow prior to its acquisition by Barratt in the autumn of last year. Barratt Developments alone achieved 14,004 completions in financial 2024.
IntegraFin added 14%. It said it delivered one of the strongest third-quarter performances in its history, with net inflows nearly doubling year-on-year and platform clients reaching a record high, as it also began a group-wide cost review.
The London-based investment platform operator reported net inflows of GBP1.21 billion for the three months to June 30, up 84% from GBP659 million a year before.
Chief Executive Alex Scott said: "Net inflows surpassed GBP1.2 billion for the second consecutive quarter... making it one of the best third-quarter performances in our history. Additionally, it is pleasing to see that outflows in the third quarter declined to their lowest level since the fourth quarter of financial 2023."
To drive long-term profitability, IntegraFin has launched a cost review aimed at improving efficiency and accelerating earnings growth. Based on current assessments, the company reiterated guidance for financial 2025 underlying administrative cost growth at about 9%.
Shining on AIM, Oxford Biodynamics shares more than doubled to 0.56 pence, having closed at 0.26p on Monday.
It said its biomarkers were shown to be effective indicators of cancer in trials conducted by Pfizer.
The Oxford, England-based biotechnology company develops medical tests. It described its EpiSwitch biomarkers as "an effective liquid biopsy method" meaning they can analyse blood samples. EpiSwitch has been used in a bladder cancer study by New York-based pharmaceutical firm Pfizer.
By Eric Cunha, Alliance News news editor
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